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1.16.19 - Why Sanders' $15 Minimum Wage Is Irrelevant

Gold last traded at $1,293 an ounce. Silver at $15.63 an ounce.

NEWS SUMMARY: Precious metal prices rose Wednesday on safe-haven buying and a flat dollar. U.S. stocks rose as investors cheered strong quarterly earnings from major banks like Goldman Sachs and Bank of America.

 

 

 

Gold Price Resumes Climb Toward $1,300/Oz.

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bars business global intergold 335265smGold resumes climb toward $1,300 -Marketwatch
"Gold prices on Wednesday resumed their climb toward the psychologically important price of $1,300 an ounce, finding support from the turmoil surrounding the U.K.’s plan to leave the European Union and the upcoming vote of no confidence facing Prime Minister Theresa May’s government. Caution among traders has deepen 'ahead of a no-confidence vote on British Prime Minister Theresa May’s government and other geopolitical risks, including the U.S. government shutdown, loom large in investors minds,' said Mark O’Byrne, research director at GoldCore. 'Physical demand for gold coins and bars has picked up in the U.K. and Ireland, due to Brexit and U.K. political uncertainty,' he added

Gold Price Is At All-Time High In 72 Currencies

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BullishOnGoldMeasured in 72 currencies, gold is at ... an all-time high -Mining-Journal
"'Well measured in 72 currencies, gold is at ... or within a few percentage points ... of being at an all-time high for people in those countries,' the CEO of Sharps Pixley said. His list started with the Afghan afghani, ended with the Zambian kwacha and included the Australian dollar, Russian ruble and South African rand. 'Not on the list are the British pound, the Swiss franc, the Euro and Chinese yuan - but we are not far off in all of those currencies too,' he said. 'Only in USD does gold lag - and not all of us live in the US.'

Why Sanders' $15 Minimum Wage Is Irrelevant

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640px Bernie sanders franklin nh 20150802 DSC02607 19619885364Bernie Sanders' minimum wage proposal is irrelevant thanks to Trump's pro-growth policies -Pudzer/Fox News
"Predictably, Sen. Bernie Sanders, I-Vt., is introducing a bill to raise the minimum wage to $15 an hour. Since the Republicans control the Senate and the presidency, it has absolutely no chance of passing....Progressive hosts who interviewed me on cable news shows would often ask how our company and its franchisees (Carls Jr./Hardees) could hire people for less than a 'living wage' when they were trying to support families.

Homelessness Rising Among Aging Americans

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homeless 55492 640Falling wages, rising housing costs fuel homelessness among aging Americans -Chicago Tribune
"If current trends continue, the number of aging homeless people will more than double in three major metropolitan areas, straining social and medical services, a report released this week concluded. It said that improvements in housing plus services aimed at preventing medical crises could sometimes save cities money. The report was the work of researchers from several universities, including the University of Pennsylvania and the University of Delaware and was funded by four foundations.

Gold Steady Amid Economic Slowdown Fears

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bank bars business 342945Gold steady as dollar gains on fears of economic slowdown -Reuters
"Gold prices were steady on Tuesday, pressured by a firm dollar on the back of concerns over slowing global growth, but well supported by expectations the U.S. Federal Reserve could refrain from raising interest rates this year. Asian shares were on the back foot on Tuesday as surprise falls in China’s exports stoked worries about the global economy, while the U.S. dollar was marginally higher against its peers....